Smith Asset Management Group LP trimmed its holdings in shares of Sysco Corporation (NYSE:SYY) by 7.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,286,366 shares of the company’s stock after selling 107,559 shares during the period. Sysco Corporation comprises 2.0% of Smith Asset Management Group LP’s investment portfolio, making the stock its 11th largest position. Smith Asset Management Group LP owned 0.24% of Sysco Corporation worth $64,734,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Kistler Tiffany Companies LLC lifted its position in Sysco Corporation by 0.4% during the second quarter. Kistler Tiffany Companies LLC now owns 2,915 shares of the company’s stock valued at $147,000 after buying an additional 12 shares in the last quarter. Buckingham Asset Management LLC lifted its position in Sysco Corporation by 0.3% during the first quarter. Buckingham Asset Management LLC now owns 5,904 shares of the company’s stock valued at $307,000 after buying an additional 16 shares in the last quarter. Schnieders Capital Management LLC lifted its position in shares of Sysco Corporation by 0.4% during the second quarter. Schnieders Capital Management LLC now owns 4,070 shares of the company’s stock worth $205,000 after purchasing an additional 18 shares in the last quarter. Blue Chip Partners Inc. lifted its position in shares of Sysco Corporation by 0.6% during the first quarter. Blue Chip Partners Inc. now owns 2,949 shares of the company’s stock worth $153,000 after purchasing an additional 19 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in shares of Sysco Corporation by 1.2% during the first quarter. Sequoia Financial Advisors LLC now owns 4,198 shares of the company’s stock worth $218,000 after purchasing an additional 50 shares in the last quarter. 78.88% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Sysco Corporation (NYSE:SYY) opened at 52.91 on Thursday. The company has a market cap of $28.04 billion, a price-to-earnings ratio of 25.44 and a beta of 0.52. The company has a 50 day moving average of $51.91 and a 200-day moving average of $52.54. Sysco Corporation has a 52 week low of $47.15 and a 52 week high of $57.07.

Sysco Corporation (NYSE:SYY) last released its quarterly earnings results on Monday, August 14th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.01. The business had revenue of $14.40 billion during the quarter, compared to the consensus estimate of $14.35 billion. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 EPS. On average, equities research analysts expect that Sysco Corporation will post $2.76 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 6th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.32 annualized dividend and a yield of 2.49%. Sysco Corporation’s dividend payout ratio (DPR) is presently 63.16%.

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A number of research firms have recently commented on SYY. Jefferies Group LLC reissued a “hold” rating and set a $51.00 target price on shares of Sysco Corporation in a research report on Friday, August 4th. Wells Fargo & Company reissued a “buy” rating on shares of Sysco Corporation in a research report on Monday, August 14th. Zacks Investment Research cut shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Pivotal Research set a $53.00 target price on shares of Sysco Corporation and gave the stock a “hold” rating in a research report on Sunday, August 13th. Finally, Royal Bank Of Canada set a $50.00 target price on shares of Sysco Corporation and gave the stock a “hold” rating in a research report on Friday, August 11th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $55.71.

In related news, EVP Wayne Shurts sold 7,800 shares of the business’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $55.30, for a total value of $431,340.00. Following the completion of the sale, the executive vice president now directly owns 58,776 shares in the company, valued at approximately $3,250,312.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William J. Delaney III sold 30,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $55.55, for a total value of $1,666,500.00. Following the completion of the sale, the chief executive officer now owns 406,725 shares of the company’s stock, valued at $22,593,573.75. The disclosure for this sale can be found here. Insiders sold a total of 160,200 shares of company stock valued at $8,397,012 over the last 90 days. 8.81% of the stock is currently owned by corporate insiders.

Sysco Corporation Company Profile

Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.

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Institutional Ownership by Quarter for Sysco Corporation (NYSE:SYY)

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